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Stock Plans (Tables)
9 Months Ended
Sep. 30, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock-Based Compensation

Stock-based compensation is reflected in the consolidated statements of operations as follows for the three and nine months ended September 30, 2018 and 2017 (in thousands):

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Research and development

 

$

1

 

 

$

11

 

 

$

6

 

 

$

24

 

Sales and marketing

 

 

5

 

 

 

38

 

 

 

15

 

 

 

67

 

General and administrative

 

 

16

 

 

 

32

 

 

 

65

 

 

 

71

 

 

 

$

22

 

 

$

81

 

 

$

86

 

 

$

162

 

 

Weighted-average Assumptions used to Estimate Fair Value of Stock Options

The weighted-average assumptions used to estimate the fair value of employee stock options using the Black-Scholes option-pricing model were as follows for the three and nine months ended September 30, 2018 and 2017:

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Expected volatility

 

 

120.3

%

 

 

88.2

%

 

 

120.3

%

 

 

87.8

%

Expected term (in years)

 

 

6.05

 

 

 

6.05

 

 

 

6.05

 

 

 

6.05

 

Risk-free interest rate

 

 

3.0

%

 

 

2.1

%

 

 

3.0

%

 

 

2.1

%

Expected dividend yield

 

 

0

%

 

 

0

%

 

 

0

%

 

 

0

%

 

Share-Based Activity

The following table summarizes share-based activity under the Company’s stock option plans for the nine months ended September 30, 2018:

 

 

 

Shares of

Common

Stock

Attributable

to Options

 

 

Weighted-

Average

Exercise

Price

 

 

Weighted-

Average

Contractual

Life

 

 

Aggregate

Intrinsic

Value

 

 

 

 

 

 

 

 

 

 

 

(in years)

 

 

(in thousands)

 

Outstanding at December 31, 2017

 

 

992,221

 

 

$

10.71

 

 

5.72

 

 

$

63

 

Granted

 

 

122,500

 

 

$

 

 

 

 

 

 

$

 

Exercised

 

 

 

$

 

 

 

 

 

 

$

 

Cancelled

 

 

(381,043

)

 

$

5.31

 

 

 

 

 

 

$

 

Outstanding at September 30, 2018

 

 

733,678

 

 

$

4.67

 

 

 

5.96

 

 

$

16

 

Vested or expected to vest at September 30, 2018

 

 

733,678

 

 

$

4.67

 

 

 

5.96

 

 

$

16

 

Exercisable at September 30, 2018

 

 

337,063

 

 

$

 

 

 

 

 

 

 

Restricted Stock Units and Performance Stock Units Activity

The following table summarizes information related to RSU & PSU activity for the nine months ended September 30, 2018:

 

 

 

Number

of Units

 

 

Weighted-

Average

Contractual

Life

 

 

Aggregate

Intrinsic

Value

 

 

 

 

 

 

 

(in years)

 

 

(in thousands)

 

Outstanding at December 31, 2017

 

 

392,659

 

 

 

8.27

 

 

$

429

 

Granted

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

Cancelled

 

 

(142,659

)

 

 

 

 

Outstanding at September 30, 2018

 

 

250,000

 

 

 

7.48

 

 

$

208